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aussiebusman -> RE: Confidentiality agreement (7/4/2012 3:53:43 PM)
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You will find EVERY BUSINESS BROKER OR AGENT will require you to sign a C/A. You are going to receive often confidential and case sensitive information about the business you want to buy. By signing a C/A you are promising not to disclose that information to others or do anything that may cause harm or damage to that business from the information you receive. If you do the owner has every right and WILL SUE YOU for damages. If your interest in the business is genuine then there is no problems with signing a C/A but you must understand that the business owner needs to protect his business and information related to it. A broker or agent requires a C/A TO VERIFY YOUR IDENTITY and if you are a business competitor then he is required to contact the owner to ensure he is happy to release the information to you. The same thing applies if the business owner chhoses to sell directly rather than paying a broker or agent...it;s all aboutprotecting rights and taking action if rights are violated. Part of your DUE DILIGENCE in buying any business is getting facts, figures, financials and checking it with other professionals and advisors before you make your commitment to purchase. I have bought many many businesses over the years with a C/A EVERY TIME. It is the right thing to do.
Do your homework make sure the business is right for you
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